Politically-themed cryptos or ‘PoliFi tokens’ are relatively new to the crypto space, but whenever they have appeared, it has followed with controversy. This is exactly what has happened with the recently launched TrumpCoin (DJT).
While much information about the project is yet to be revealed, investors seem to be keen on buying into the highly speculative asset for high returns given the upcoming election season.
Martin Shkreli Claims to be the TrumpCoin Creator
There has been much speculation as to who is the real creator of TrumpCoin. Usually, projects like these gain some investors and often fizzle out right after. However, there was a sudden increase in the investment for DJT, and several major crypto influencers were seen talking about the project.
This popularity led individuals to try to find intel on the background of the project. However, the project didn’t divulge any information, nor did it have a dedicated social media channel, which led to intense speculation among investors.
The X account for the publication Pirate Wires claimed that Trump was launching an “official token” with the ticker DJT, spearheaded by “Barron,” likely referring to the president’s youngest son.
However, there was no confirmation from any official party, which is when Arkham Intel, a popular blockchain analytics platform, tweeted and offered $150,000 to anyone who could “definitively prove the identity of the creator of $DJT token.” As soon as the post went live, speculations came in, with one gaining the most traction.
ZackXBT, a popular crypto influencer, claimed that he had sent in a submission.
This name in the submission was speculated to be Martin Shkreli, known across the world for his infamous stint within the pharma space in recent years.
Martin Shkreli then reportedly messaged ZackXBT on X, confirming that he was indeed the creator of TrumpCoin. He claimed that he had created the token along with Barron Trump, Donald Trump’s son. He then created a space on X to confirm with others that he indeed was the creator.
However, the controversy only grew as ZackXBT decided to reveal that there may have been market manipulation involved, as many of his acquaintances may have been in on the project before it even launched. Andrew Tate and several other big names within the politics and finance space were reportedly a part of the group that was involved in manipulating or being aware of the manipulation in the crypto.
Will DJT Pump?
In just the past two days, the project has already generated more than $300 million in trading volume. At the time of writing, the token is trading at around $0.011, lower from its recently recorded all-time high of $0.013. While the participation of investors has decreased, there still seems to be much speculation on the potential of the token, built on the Solana blockchain.
Even highly popular crypto YouTube channels run by leading publications like CoinDesk have featured the project and talked about how it may be crucial as a crypto launch given the upcoming election season. Right after all this information was made public, there was a massive drop in the price of DJT, where a supposed member from the group of Shkreli’s acquaintances that ZackXBT mentioned sold their tokens worth $832K, which they then deposited to a CEX within a single hour.
There is no clarity on whether the project is likely to pump again, but it has often been noticed that projects that gain popularity end up pumping in value, especially if they are tied to some kind of controversy or incident that can create hype among investors.
As more information about the project comes to light, DJT may end up pumping in value or seeing a massive price drop. However, now may definitely be too soon to comment on where the prices may be moving next.
Investors Bullish on Solana Memecoin – Is Sealana Next to Pump?
This increasing hype around DJT has once again brought investor attention to Solana memecoins, which is what TrumpCoin is built on as well. However, DJT may seem to be very volatile given the current market scenario, which may result in losses for investors as well. As a safer but high-potential option, the Sealana project has emerged within the space.
Sealana leverages the trending meme culture prevalent in today’s digital asset landscape. Utilizing a seal as its mascot, portrayed as a basement-dweller obsessed with crypto trading, Sealana aims to resonate with a community that relishes humorous, relatable content while engaging in speculative trading.
The character’s identity is referenced from the popular show South Park’s “World of Warcraft Guy.” This thematic approach not only captivates but also fosters a sense of belonging among investors looking for lighthearted participation amidst the volatile crypto market.
The presale model is remarkably user-friendly; investors can simply send SOL to a designated wallet and receive SEAL tokens in return, thus removing typical barriers to entry, such as complicated registration processes. Given the current demand for memecoins and them being built on the Solana blockchain, there is a high possibility for the token to gain momentum as soon as it is launched.
At the time of writing, Sealana has raised more than $5 million. Given the timing and the increasing demand for Solana memecoins, this Seal-themed memecoin may be an excellent alternative to consider to DJT, showing similar potential as an investment in the coming weeks.
With the presale set to end June 25, popular crypto YouTube channels like 99Bitcoins have already begun speculating about how high Sealana will grow once it debuts on cryptocurrency exchanges.
To grab the last to participate in the presale of this high-potential Solana gem, investors should visit sealana.io.
